Price Driver of Cryptocurrency Exchange Against the Major Stock Market Indices

This thesis explores how cryptocurrencies and stock markets are connected and how risk and market sentiment influence these relationships over time. Using data from multiple markets, the research examines price movements, how financial risk spreads across markets, and changes in market behaviour across different periods. The findings show that cryptocurrencies are increasingly linked with stock markets, but these connections vary across regions and over time. The study improves understanding of financial risk in modern markets and provides insights for investors, policymakers, and researchers.